SoftBank and Renren-backed online financial services provider SoFi will list on the New York Stock Exchange at an $8.65bn valuation double that of its last round.

Social Finance (SoFi), the US-based online financial services provider backed by internet and telecommunications group SoftBank and social media company Renren, agreed a reverse merger yesterday. The company is merging with Social Capital Hedosophia (SCH) Holdings Corp V, a special purpose acquisition company formed by Social Capital and Hedosophia that floated on the New York…

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